KUALA LUMPUR Feb 25 Malaysian conglomerate UMW
Holdings Bhd has hired four banks for the planned 1
billion ringgit ($322.42 million) listing of its oil and gas
unit expected in the second half of this year, according to two
sources close to the deal.
CIMB Group Holdings Bhd, Credit Suisse Group AG
, Goldman Sachs & Co and Malayan Banking Bhd
have been chosen to advise on the initial public
offering (IPO), the sources said, declining to be named as the
matter was private.
This is not the first time the industrial-to-automotive
group -- which counts Malaysia's largest fund management firm
Permodalan Nasional Bhd and American investment management
company Vanguard Group Inc as shareholders -- has tried to list
its oil and gas arm on the Malaysian stock exchange. UMW has
been working on a listing since 2007.
UMW shares rose 0.66 percent to 12.18 ringgit in morning
trade, outperforming the benchmark index's 0.21 percent